PRIME affirms its strong commitment to repaying debentures in accordance with the established schedule and urges bondholders to place their confidence in the Company’s management efficiency. The Company is expediting the sale of subsidiaries with a total value of THB 686 million to prepare reserve funds for repaying 30% of the principal of all four debenture series.
Mr. Somprasong Panjaluck, Chairman and Chief Executive Officer of Prime Road Power Public Company Limited (“PRIME”), disclosed that the Company is determined to fulfill its obligations to bondholders as scheduled, while upholding corporate governance and ensuring the utmost benefits to all stakeholders. This is aimed at strengthening investor confidence and the long-term financial stability of the Group.
At the Board of Directors’ Meeting No. 7/2025 held on July 11, 2025, the Board resolved to approve Prime Road Group Co., Ltd. (PRG or the “Seller”), a subsidiary, to sell all its shares in three subsidiaries—Star Solar Co., Ltd. (STS), Smart Solar Co., Ltd. (SMS), and Ideal Solar Co., Ltd. (IDS)—with a total transaction value of THB 686 million to GreenYellow CHSPP PTE. LTD. (“GreenYellow” or the “Buyer”), which is not a connected person of the Company.
STS, SMS, and IDS operate ground-mounted solar power plant projects for government agencies and agricultural cooperatives at four locations:
- BSA-08 Project – 5 MW, Sena District, Ayutthaya Province
- LBL-05 Project – 5 MW, Lat Bua Luang District, Ayutthaya Province
- BSA-01 Project – 5 MW, Sena District, Ayutthaya Province
- LAK-09 Project – 3 MW, Lat Lum Kaeo District, Pathum Thani Province
The transaction constitutes a disposal of assets under the regulations on acquisition and disposition of assets. Accordingly, the Company has circulated an information memorandum to its shareholders within 21 days from the disclosure date to the Stock Exchange of Thailand.
The Buyer will pay a total cash consideration of THB 686,180,800 in three installments:
- First installment: approximately THB 617.56 million upon the transfer of shares in STS, SMS, and IDS to the Buyer, expected by November 2025.
- Second installment: approximately THB 34.31 million within 30 days after the share transfer, expected by December 2025.
- Third installment: approximately THB 34.31 million within six months after the share transfer, expected by May 2026.
“The Company will allocate a portion of the proceeds from the sale of these subsidiaries as reserve funds to repay 30% of the principal and interest of its four debenture series: PRIME253B, PRIME253A, PRIME25DA, and PRIME25DB,” said Mr. Somprasong.
He further emphasized that the Company has been implementing its cash flow management plan to address upcoming debt obligations. The transaction represents part of the Company’s ongoing debt management strategy, which also includes seeking joint venture partners, disposing of certain power plant assets, collecting overdue receivables from subsidiaries’ operations, and negotiating project financing with investors and financial institutions. These efforts are undertaken alongside stringent liquidity management policies to maximize financial efficiency.
“The Company reaffirms its determination and commitment to repaying bondholders in full and on time, while strictly adhering to corporate governance principles and safeguarding the best interests of all stakeholders,” Mr. Somprasong concluded.
